President Trump is again showing the world how it is done in an extraordinarily successful G20 Summit. He got the NAFTA deal done and was still able to protect our steel industry which is vital for national security.
The American worker got some huge concessions out of the deal as well. Then he sat down for the key meeting with the Chinese leadership and it typical Trump fashion the meeting went way over time as the two sides hashed out their differences.
And the result will send markets sky high because Trump just announced a truce, albeit tenuous with China. And America’s farmers are huge winners. They stuck with Trump when China targeted them and they took it on the chin because they believed Trump was right and they are patriots.
From The Los Angeles Times: President Trump and his Chinese counterpart, Xi Jinping, agreed to a freeze in the two nations’ growing hostilities on trade, but it appeared to be a tenuous truce that left billions of dollars of existing tariffs in place and a longer-term solution contingent on key details being sorted out by their aides.
The agreement was sealed at a working dinner Saturday after the close of the Group of 20 summit in Buenos Aires, where world leaders convened against the backdrop of slowing global growth and mounting tensions on trade — none more consequential than the conflict between the United States and China.
It was the first face-to-face meeting for the two leaders in more than a year and the first since Trump launched the opening round of punitive tit-for-tat tariffs that have roiled financial markets and intensified worries of an emerging cold war with far-reaching repercussions.
In exchange, Xi was expected to put on the table an offer to reopen China’s market to American soybeans and other farm goods, as well as a commitment to address long-standing U.S. concerns that China is stealing U.S. intellectual property and that its policies discriminate against foreign companies and essentially coerce them to hand over technologies to gain access to Chinese markets.
As part of the deal, senior aides are to meet later this month to begin the work of fleshing out the two leaders’ agreement.
From Bloomberg: The meeting ran longer than scheduled, ending after more than two hours, the White House said. There was no immediate word from either side about whether it yielded progress toward keeping an already costly trade dispute from spiraling into a new and broader cold war. At the start of the dinner, Trump struck an optimistic note.
Through a translator, Xi said that “only with cooperation between us can we serve the interest of global peace and prosperity and that is why I look forward to this meeting.”